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If you have pitched all the real funds with no takers, and you have burned through your Angel money, you may as well pitch these guys. If you're clear that you'll let them control your company in exchange for a terrible valuation, they might just throw some money your way. A word of advice, if you pitch to Patrick Bultema, treat him like he walks on water because his ego demands it. Make it clear that you are a small humble start-up who loves living like a starving student, and you're looking for him to save you from yourself and find salvation from your current direction (or lack thereof). With his ego sufficiently engorged, maybe then will he champion your company and get you a quarter of what you think you're worth. Look on the bright side, at least you can make payroll and say you're funded by a VC. A word of advice, if you work with these guys, try to get them to put their reputation behind your company. Get them to place their 'good ol boy' network into your company. That's the only way to force them to keep you on life support long after a real VC would have pulled the plug.